The Nigerian Exchange Limited has suspended trading in the shares of three insurance firms, Regency Alliance Insurance Plc, International Energy Insurance Plc, and Universal Insurance Plc—for failing to file their audited financial statements for the year ended December 31, 2024.

The suspension, which took effect on September 1, 2025, was carried out under NGX’s Default Filing Rules, which mandate suspension and SEC notification when companies miss the cure period after a second filing deficiency notice.

“Trading Licence Holders and the investing public are hereby notified that, pursuant to Rule 3.1 of the Rules for Filing of Accounts and Treatment of Default Filing, if an issuer fails to file the relevant accounts by the expiration of the cure period, the Exchange will send a second filing deficiency notification within two business days, suspend trading in the issuer’s securities, and notify the Securities and Exchange Commission and the market within 24 hours.

“Consequently, trading in the shares of Regency Alliance Insurance Plc, International Energy Insurance Plc, and Universal Insurance Plc has been suspended from the facilities of the Nigerian Exchange Limited, effective Monday, September 1, 2025, for not filing their audited financial statements for the year ended December 31, 2024. The suspension will be lifted once the outstanding financial statements are submitted,” the statement read.

According to NGX, the suspension will remain in place until the affected companies submit their outstanding audited financial statements. The Exchange said the move is aimed at protecting investors and upholding compliance with its regulatory framework.

It added that the Securities and Exchange Commission has been duly notified, while investors are advised to follow NGX updates on the possible reinstatement of trading once the companies meet their filing obligations.